3 Cannabis Stocks Wall Street Loves

CURLF’s total revenue has increased 205% year-over-year to $230.25 million in the fourth quarter, ended December 31, 2020. Its gross profit increased 399% from its year-ago value to $109.63 million. And the company’s adjusted EBITDA rose 289% year-over-year to $53.78 million. Its gross profit margin for the fourth quarter of 2020 was 48%, compared to 38% for the fourth quarter of 2019.

CURLF beat the Street’s EPS estimates in three of the trailing four quarters. A consensus revenue estimate of $1.27 billion for the current year represents a 100.4% increase from the same period last year. The stock has gained 288.7% over the past year.

All six Wall Street analysts that provided ratings for the stock have rated it “Buy.” Also, the consensus price target of $20.26 represents a potential upside of 23.8%.

Harvest Health & Recreation Inc. (HRVSF - Get Rating)

Founded in 2011, HRVSF is involved in the cultivation, processing, and selling of cannabis in the United States. It offers cannabis oil, capsules, tinctures, and cannabis product edibles under the  Roll One, Modern Flower, Evolab brands, among others. The company also operates retail dispensaries that sell cannabis products to patients and customers.

Last month, HRVSF completed the divestiture of its two medical marijuana dispensary assets in North Dakota as a part of its strategic plan to allocate resources in core markets to further enhance growth opportunities.

In January, it launched recreational cannabis sales in Arizona. HRVSF registered its first sale as it began offering access to regulated and legal cannabis products to serve both medical patients and recreational customers across the state.

HRVSF’s total revenue increased 86% year-over-year to $61.64 million in the third quarter, ended September 30, 2020. Its gross profit grew 222.7% from the year-ago value to $38.33 million, while its adjusted EBITDA rose 156.1% sequentially to $10.5 million over this period. The company’s gross profit margin, excluding biological adjustments, in the third quarter was 46.6%, compared to 35.0% in the third quarter of 2019.

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